Deposits

Deposits are one topic full of False beliefs!

Truthfully, we do more lending with 5 - 10% deposits than we do with 20%+!

Here’s your options..

5% Deposit – Kainga Ora First Home Loan: Stricter criteria, but great perks: low rates, cashback, and a 90-day pre-approval. This is a standard loan through a bank. No catch, no buyout requirements.

5% Deposit – Main Bank Scheme:

No pre-approvals + higher interest rates = harder to plan ahead.

10-19% Deposit – Main Bank Loan Pre-approval:

Most common! Valid for 60 days, extendable for another 60 days. Rates are generally 0.25 - 0.75% higher than advertised rates. Every bank is different, so ask if you're unsure. Great option here as the higher rate can be reduced as your “Equity” grows.

20% Deposit – The Golden Ticket 🎟️

Best deals, best rates, best approvals. Easiest pre-approval process (valid for 90 days + extendable for another 90). Strong cash contributions from the bank. No valuation required (Unless a new build or private sale)

Not common, but a 20% deposit puts you in a great position.